Toronto, ON / ACCESSWIRE / August 29, 2014 / GC-Global Capital Corp. (TSXV: GDE.A) ("Global Capital") announces its financial results for the second quarter ending June 30, 2014.
Highlights
- Six month revenue of $1.7 million, up significantly year over year;
- Net income for the second quarter of $993,509 ($0.03 per share);
- Ended the quarter with a cash position of $1.7 million and public company investments of $3.4 million;
- Increase of total assets to $13.2 million from $9.8 million as at December 31, 2013;
Management's Second Quarter Comments
In the second quarter of 2014, Global Capital continued to see many opportunities for implementing its financial services. Management continues to focus on limiting risk while targeting superior returns within each transaction. As the second quarter in 2014 progressed, Global saw many of its investee companies strengthen their business models through the completion of new equity financings and the achievement of corporate milestones. Global would like to highlight Poydras Gaming Finance Corp's completion of its reverse take-over and subsequent $11 million financing, 3Tier Logic Inc.'s closing of a $1.01 million secured convertible debenture and share exchange agreement with KCO Capital Inc. (TSXV: KCO.P) and entering into a $1.0 million secured operating line agreement with its client company, Advantagewon Oil Corp. Each one of these investee companies continues to strengthen their positions within their respective markets and Global would like to congratulate the management teams of these companies for their achievements.
A full set of unaudited financial statements and related notes have been filed on SEDAR.
About GC-Global Capital Corp.
Global Capital is a merchant bank, which provides bridge loan services, to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. For further information, please contact Jason G. Ewart at (416) 488-7760 or visit Global Capital's website at www.gcglobalcapital.ca.
Forward-Looking Information
These materials include certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Other than statement of historical fact, all statements in this material, including, without limitation, statements regarding fair values of marketable securities, investments, bridge loans, convertible debentures, estimated asset retirement obligations, and future plans and objectives of the Company, are forward-looking statements that involve various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date of these materials. Important factors that could cause actual results to differ materially from the Company's expectations include, without limitation, the level of bridge loans completed, the nature and credit quality of the collateral security, the sufficiency of cost estimates for remaining reclamation obligations as well as those factors discussed in the Company's documents filed from time to time with the TSX Venture Exchange, Canadian securities regulators and other regulatory authorities. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: GC-Global Capital Corp.